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Jul 20, 2011
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you know, people who think we can continue to spend tens and tens of billions of dollars in iraq and afghanistan, over a hundred million a year, pour be money into corruption that doesn't help. they can't find 150 or 200 million to regulate derivative. today, this afternoon, a few hours ago, they voted in committee and i think people will be astonished by this. to reduce the legal liability we try to put on the rating agencies. the rating agents are a big part of this problem. paid by the people who are issuing the security and they gave me outlandishing favorable ratings that turn out to be accurate. we said, if you put a rating into a perspective, if i said to you, sharpton, can you guy this and here is what moody's or standard & poor's said about that, they say no -- >> they just voted to repeal that so you can't vote for having misinformation on that? >> it would be much harder. you have to show, al, that they were knowingly reckless. the fact that they were dead wrong, sloppy, careless and you put your money in and bought something worthless, that won't let you do it. you have to -- go thro
you know, people who think we can continue to spend tens and tens of billions of dollars in iraq and afghanistan, over a hundred million a year, pour be money into corruption that doesn't help. they can't find 150 or 200 million to regulate derivative. today, this afternoon, a few hours ago, they voted in committee and i think people will be astonished by this. to reduce the legal liability we try to put on the rating agencies. the rating agents are a big part of this problem. paid by the...
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Jul 20, 2011
07/11
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CSPAN2
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president to sustain our military force io afghanistan. that is literally what we'ren do taught about here in this debate. the american people are turning to come to understand it because when you first ask a person, tht obvious answer is no, are you crazy, senator? by what i want one of them in this country? we need more less stack, notts e more. when you go to the point ofjusto explaining that this is to pay d for things we authority -- that's the authority incurred, it isn't just a wage of war. 65a it is a debt incurred to pay fot medicare. we staaidl a to 65-year-olds acr america, you get medicare that will be there when you need pay. when you go to the hospital and turn your bills, will pay thejor hospital and we borrow money to do it. yield? >> thank you. i just walked in i appreciate w your comments about where weereh had h were. of 10 years ago we had a budget surplus in this country as you , recall. we had a number quarter after quarter of economic growth than we know the coming outcome when you have economic growth obviously the
president to sustain our military force io afghanistan. that is literally what we'ren do taught about here in this debate. the american people are turning to come to understand it because when you first ask a person, tht obvious answer is no, are you crazy, senator? by what i want one of them in this country? we need more less stack, notts e more. when you go to the point ofjusto explaining that this is to pay d for things we authority -- that's the authority incurred, it isn't just a wage of...
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Jul 20, 2011
07/11
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voted to carry out two wars, afghanistan and iraq. borrowed money to do it. these are past expenditures. here we are, days away from the default crisis, where our republican friends are using this moment in time, where we're not really discussing tomorrow's expenditures, we're talking about yesterday's expenditures and they're saying, give us our way our else america defaults. mr. welch: representative garamendi, i think the message from the democrats in the house of representatives is straightforward and logical. mr. tonko: we said save medicare, make it stronger. then we talk about cutting, cutting programs that don't create jobs. do those cuts where there's no jobs created. where there are, save those programs, strengthen them, provide for jobs by investing in education, in innovation, and in infrastructure. and it's very easy when you take the education investment, the infrastructure investment and certainly the education investment that equals jobs for americans. middle class americans. and that's what it's all about. if we create jobs, it drives down th
voted to carry out two wars, afghanistan and iraq. borrowed money to do it. these are past expenditures. here we are, days away from the default crisis, where our republican friends are using this moment in time, where we're not really discussing tomorrow's expenditures, we're talking about yesterday's expenditures and they're saying, give us our way our else america defaults. mr. welch: representative garamendi, i think the message from the democrats in the house of representatives is...
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Jul 20, 2011
07/11
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i disagree with a strategy where we're spending $100 billion to $120 billion in afghanistan in a strategy of nation building that is not the best use of our national security, not the best use of our soldiers who are there to fight for our national security, but those are decisions that were made in the past. and we must pay the bill on those decisions even when i disagreed with them. and then we need to put together a plan that takes on our deficit and our debt, and that plan has to put all of the options on the table. some of my colleagues across the aisle, they said, well, we want to protect the tax spending programs where we've tucked in tax provisions for the wealthy and the well connected. we want to defend those. we don't want to touch those for the best-off americans. but we want to cut the programs for working americans. that is unacceptable. we have seen enormous increase in the disparity between the wages and welfare of our citizens in general and the best-off becoming much, much wealthier proportionately. we can't continue to say that we're going to protect the well-connected
i disagree with a strategy where we're spending $100 billion to $120 billion in afghanistan in a strategy of nation building that is not the best use of our national security, not the best use of our soldiers who are there to fight for our national security, but those are decisions that were made in the past. and we must pay the bill on those decisions even when i disagreed with them. and then we need to put together a plan that takes on our deficit and our debt, and that plan has to put all of...
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Jul 20, 2011
07/11
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grandparents, mothers and fathers who are back here in this country while on the front lines of iraq and afghanistan. today we just voted h.r. 2650 to, in fact, establish a club of losers for these patriots who have served their country. what a shame. what a shame. i yield back. the speaker pro tempore: for what purpose does the gentleman from louisiana rise? without objection. mr. scalise: mr. speaker, the house finally passed a real plan that addresses this nation's spending crisis. i think many american families know that washington has a spending problem because they have been living within their means. they have wen been trying to figure out to do what what they've got. and we passed a plan that actually would cut, cap and balance and controls spending in washington. and what's the president's plan? we have still yet to hear his plan. we hear speeches and class warfare where the president puts one part of america against the other. if he confiscated every dollar, it wouldn't address the problem. it's time to get real. if the president wants to get serious about addressing the spending problems,
grandparents, mothers and fathers who are back here in this country while on the front lines of iraq and afghanistan. today we just voted h.r. 2650 to, in fact, establish a club of losers for these patriots who have served their country. what a shame. what a shame. i yield back. the speaker pro tempore: for what purpose does the gentleman from louisiana rise? without objection. mr. scalise: mr. speaker, the house finally passed a real plan that addresses this nation's spending crisis. i think...
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Jul 20, 2011
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. -- in iraq and afghanistan. host: why did they see this as an area that need to be filled? guest: the problem has been wrapped up in the general difficulties. it turns out a lot of homes have gone into -- a lot of people have gone into default of mortgages. some companies are better than others at collecting monthly payments and keeping track of paperwork. the ones have proved not to be so good at it have caught service members in the riptide. we have not gotten your payment, we over charge them. foreclosure. that sort of thing going on. this has been a politically embarrassing process of writing wrongs done against members of the military in active duty. host: gym as white as a deployed serviceman and against paying his mortgage -- jim asked why a deployed servicemen against paying his mortgage? guest: he is not exempt against paying his mortgage. is exempt against being foreclosed on. as it has been explained to me, a service member might be in the field for a week or two and have virtually no contact with the
. -- in iraq and afghanistan. host: why did they see this as an area that need to be filled? guest: the problem has been wrapped up in the general difficulties. it turns out a lot of homes have gone into -- a lot of people have gone into default of mortgages. some companies are better than others at collecting monthly payments and keeping track of paperwork. the ones have proved not to be so good at it have caught service members in the riptide. we have not gotten your payment, we over charge...
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Jul 20, 2011
07/11
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so the iraq war and the afghanistan war. the other thing is this downturn in the economy. the downturn in the economy occurred in 2008. how did it happen, why did we have that crash of the american economy? we had it because the federal government stepped back from regulating the financial institutions, allowing them to run wild, assuming that they would be smart enough to regulate themselves. that didn't happen. they were smart enough to be extraordinarily greedy. wall street went on a greed binge and the result was the collapse of the financial industry. needless to say there were other players in this game and many americans, hundreds of thousands of americans joined in the game and took out mortgages, bought house that there was no way they could possibly afford. the financial industry, the mortgage industry and wall street bankers and we wound up with the great collapse of 2008. to deal with that the bailout of wall street occurred, most of that has now been paid back. it worked. did it work for the benefit of americans? well, it stabilized the financial institutions
so the iraq war and the afghanistan war. the other thing is this downturn in the economy. the downturn in the economy occurred in 2008. how did it happen, why did we have that crash of the american economy? we had it because the federal government stepped back from regulating the financial institutions, allowing them to run wild, assuming that they would be smart enough to regulate themselves. that didn't happen. they were smart enough to be extraordinarily greedy. wall street went on a greed...
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Jul 20, 2011
07/11
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afghanistan alone is costing $10 billion a month with the total price tag for iraq and afghanistan going back 10 years $3.2 trillion. and that's a conservative estimate, mr. speaker. these are staggering figures, especially during a recession when americans are crying out for washington to do something about creating jobs and breathing life back into our economy. and what are the taxpayers getting for their trillions of dollars in war spending? more than 6,100 dead americans, continued violence in iraq and a prime minister whose cozying up to iran and an ongoing civil war in libya. a corrupt regime in kabul, insurgents that continue to kill at will. in afghanistan, a nation still under crushing poverty and an afghan government that cannot protect its own people. by any measure these wars have been a devastating failure and yet with barely any scrutiny, barely any debate and certainly no outrage from republican leaders, we continue to write that check. meanwhile, we have domestic programs that work, proven investments in the survival and prosperity of our people. medicare, social security
afghanistan alone is costing $10 billion a month with the total price tag for iraq and afghanistan going back 10 years $3.2 trillion. and that's a conservative estimate, mr. speaker. these are staggering figures, especially during a recession when americans are crying out for washington to do something about creating jobs and breathing life back into our economy. and what are the taxpayers getting for their trillions of dollars in war spending? more than 6,100 dead americans, continued violence...
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Jul 20, 2011
07/11
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but i did want to bring up a couple of instances where i've had clients who were fighting in afghanistan at the same time they were fighting wells fargo on mainland because wells fargo refuse to accept their allotment pay, even though they were current. i've received e-mails from singapore from a gentleman with top-secret clearance who was current in his mortgage, and he was still being turned over to an attorney to proceed with mortgage foreclosure proceedings. this gentleman eventually was going to lose his home because he could not handle the stress of being on the job near singapore as well as having his home lost for his family and his children. this automatically as going to affect the morale of the military service, the military lending act does not at all protect our veterans, and it also does not protect other citizens who should be protected by these unregulated or under regulated aggressively marketed, high interest loan products. thank you. >> thank you, ms. drysdale. mr. pincus, you may proceed. >> thank you, mr. chairman and members of the committee. it is an honor to testi
but i did want to bring up a couple of instances where i've had clients who were fighting in afghanistan at the same time they were fighting wells fargo on mainland because wells fargo refuse to accept their allotment pay, even though they were current. i've received e-mails from singapore from a gentleman with top-secret clearance who was current in his mortgage, and he was still being turned over to an attorney to proceed with mortgage foreclosure proceedings. this gentleman eventually was...
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Jul 20, 2011
07/11
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he's the third civilian to receive that honor from the wars in iraq and afghanistan. >> steve: what a story. >> alisyn: nail biting moment at the championship motor cross match in minnesota. look at this. >> whoa! we got trouble! zachary is down ask down hard! >> alisyn: that was motor cross rider chad reid. he was in the lead before wiping out with 450 riders coming straight at him full speed. even more incredible, reed remounted his bike, as you can see, moments later, finishing a respectable 14th in this race. wow. those are your headlines. >> brian: got to tell you what happened in the house yesterday. we heard the vote was taking place and it did. in the end it passed. cut, cap and balance and a time tally of 234-190. five democrats said that sounds good to me, but yet nine republicans defected and voted with democrats. in the end, it passed. but the republicans can say, look, you voted me into office. you wanted me to cut the budget. i did exactly that. but i only have one branch of government. >> steve: exactly right. now that it passed the house of representatives, it's intere
he's the third civilian to receive that honor from the wars in iraq and afghanistan. >> steve: what a story. >> alisyn: nail biting moment at the championship motor cross match in minnesota. look at this. >> whoa! we got trouble! zachary is down ask down hard! >> alisyn: that was motor cross rider chad reid. he was in the lead before wiping out with 450 riders coming straight at him full speed. even more incredible, reed remounted his bike, as you can see, moments later,...
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Jul 20, 2011
07/11
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president, to borrow the money to sustain our military forces in afghanistan. that is literally what we're talking about here in this debate. the american people are starting to come to understand it because when you first ask a person do you want to extend the debt ceiling, the obvious answer is no, are you crazy, senator? why would i want more debt in this country? we need less debt, not more. don't you get it? understandably, that's the public reaction, but when you go to the point of explaining that this is to pay for things we have already -- debts we have already incurred -- and it isn't just to wage a war. it's a debt incurred to pay for medicare. we said to 65-year-olds across america you get a health insurance plan called medicare and it will be there when you need it. when you go to the hospital and turn in your bills, we'll pay that doctor and pay that hospital, and we borrow money to do it. mr. brown: will the assistant majority leader yield? mr. durbin: i will. mr. brown: i just walked in. i appreciate your comments about where we were. 10 years ag
president, to borrow the money to sustain our military forces in afghanistan. that is literally what we're talking about here in this debate. the american people are starting to come to understand it because when you first ask a person do you want to extend the debt ceiling, the obvious answer is no, are you crazy, senator? why would i want more debt in this country? we need less debt, not more. don't you get it? understandably, that's the public reaction, but when you go to the point of...